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A year after supposedly being elected President of Venezuela, Nicolas Maduro is still trying to figure out how to do his job. Growing up under the shadow of Chávez, Maduro had or has little idea about how to manage the Venezuelan economy. He thinks that he can follow the path of his Master, but the Master left the economy in bad shape and there are few places where the regime can find the funds required to stabilize the über-distortioned Venezuelan economy. Add to this the internal bickering between the various factions in Government and it took Maduro almost a year to make changes to the foreign exchange markets of Venezuela, which Chavismo thinks is the most important piece of any economic policy.

In fact, it thinks it is economic policy.

But other than the Maduro administration admitting a much higher rate of exchange, the new Sicad-2 foreign exchange system has become a Sitme-like repeat monster, which shows little of the supposedly "free" and "transparent…